v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net loss $ (68,295) $ (15,070) $ (164,438)
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization 59,097 62,583 57,389
Equity-based compensation 11,536 13,602 10,534
Loss on debt extinguishment 0 0 494
Gain on tax receivable agreement liability adjustment 0 0 (100,223)
Federal 0 (57) 123,124
Other, net (1,877) 3,722 5,364
Changes in operating assets and liabilities, net of amounts acquired:      
Accounts receivable, net 6,192 9,624 40,513
Inventories 11,812 26,216 122,479
Prepaid expenses and other assets (3,437) 17,076 (1,969)
Accounts payable 426 9,280 (17,968)
Income taxes payable (274) (597) 75
Accrued royalties (1,542) 6,987 (14,723)
Accrued expenses and other liabilities (18,758) (9,842) (29,716)
Net cash provided by (used in) operating activities (5,120) 123,524 30,935
Investing Activities      
Purchase of property and equipment (32,965) (32,791) (35,131)
Acquisitions of business and intangible assets, net of cash acquired 0 0 (5,364)
Sale of Funko Games inventory and certain intellectual property 0 6,754 0
Other, net 1,063 809 699
Net cash used in investing activities (31,902) (25,228) (39,796)
Financing Activities      
Borrowings on revolving credit facility 85,000 40,000 71,000
Payments on revolving credit facility (20,000) (100,500) (20,500)
Payment of term debt (23,134) (31,104) (22,581)
Distributions to continuing equity owners 0 0 (1,118)
Payments under tax receivable agreement 0 (8,960) (4)
Other, net 171 1,322 (1,201)
Net cash provided by (used in) financing activities 42,037 (99,242) 25,596
Effect of exchange rates on cash and cash equivalents 2,478 (852) 518
Net change in cash and cash equivalents 7,493 (1,798) 17,253
Cash and cash equivalents at beginning of period 34,655 36,453 19,200
Cash and cash equivalents at end of period 42,148 34,655 36,453
Supplemental Cash Flow Information      
Cash paid for interest 18,343 20,953 24,635
Income tax payments 5,355 3,899 1,059
Establishment of liabilities under tax receivable agreement $ 0 $ 547 $ 0